Well, todays loss was just over 20% for Government Motors stock with huge
sell off numbers, churning at 7 times average volume. Someone is dumping a
lot of GM stock. Finally sinking in that bankruptcy is it. Bet GM is a
penny stock by Friday.
Bond holder said correctly, GM's offer was pathetic. Can't blame the 90%
that held out and told GM to pay up or else. And the lawyers are moving in
on both GM & Chrysler as we speak. I am sure we will hear more in this.
In fact, Chryslers deal is now before the courts, they might not be able to
sell Chrysler to Fiat if the bond holders are not paid. LOL. They idiots
might want to bypass bankruptcy law, but they can't. If they don't give
bond holders a better deal, the whole thing will fall apart and Chrylser
vehicles will be sold in a final clearance.
I still can't find a web site that adds up the auto-corruption and cost to
taxpayers. But GM alone by my estimates is going to rack up over $100
billion tax dollars to their waste and still will be in financial trouble at
And even if GM can rape tax payers for another $27 billion, there si another
amount at least $40 billion more coming due. This GM pig is really going to
The saga continues as Americans (and Canadians) loose their financial
freedom to a world of corrupt corporations. Wasn't there a movie or two
about where corporations ruled? Far ahead of its time.
Did you know GM is not the first, second or third largest company to go
bankrupt? Not even close. GM is a paper dragon. Cheaper for all concerned
just to let them die.